810-3-8-.14 Taxability of Corporation on Distribution. The amount of gain recognized by a corporation on the distribution of its stock, rights to acquire its stock, or property shall be determined in accordance with 26 U. S. C. § 311, relating to the taxability of corporations on distributions. For interpretation of federal statutes adopted by the Alabama Legislature see Rule 810-3-1.1-.01, Operating Rules.

Author:     Verlon R. Frost, Jeff Taylor
Authority: Sections 40-2A-7(a)(5) and 40-18-8, Code of Alabama 1975
History:    Effective December 4, 1992. Amended: Filed March 4, 1997, effective April 8, 1997.
                Amended: Filed April 28, 1999, effective June 2, 1999.